Casella Waste Systems, Inc. $CWST Shares Sold by William Blair Investment Management LLC

Key Points

• William Blair Investment Management cut its Casella Waste Systems stake by 18.9% in the fourth quarter, selling 341,661 shares and leaving it with 1.47 million shares worth about $143.8 million.
• Casella reported better-than-expected quarterly results, posting EPS of $0.20 versus the $0.10 consensus and revenue of $457.33 million, while revenue rose 9.6% year over year.
• Analyst sentiment remains broadly positive, with two Strong Buy and eight Buy ratings and a consensus price target of $111.13, even as some firms trimmed targets and one downgraded the stock.

William Blair Investment Management LLC lowered its stake in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 18.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,468,206 shares of the industrial products company's stock after selling 341,661 shares during the period. William Blair Investment Management LLC owned approximately 2.31% of Casella Waste Systems worth $143,796,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Casella Waste Systems by 9.7% in the fourth quarter. Vanguard Group Inc. now owns 6,574,893 shares of the industrial products company's stock valued at $643,945,000 after purchasing an additional 581,310 shares during the period. Wasatch Advisors LP boosted its stake in shares of Casella Waste Systems by 8.7% in the third quarter. Wasatch Advisors LP now owns 3,708,528 shares of the industrial products company's stock valued at $351,865,000 after buying an additional 296,405 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Casella Waste Systems by 39.3% in the third quarter. Capital Research Global Investors now owns 2,010,818 shares of the industrial products company's stock valued at $190,786,000 after buying an additional 566,887 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Casella Waste Systems by 6.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,647,907 shares of the industrial products company's stock valued at $156,353,000 after buying an additional 95,600 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Casella Waste Systems by 29.5% in the third quarter. Wellington Management Group LLP now owns 1,390,635 shares of the industrial products company's stock valued at $131,943,000 after buying an additional 317,192 shares in the last quarter. Institutional investors and hedge funds own 99.51% of the company's stock.

Casella Waste Systems Stock Up 0.2%

CWST opened at $87.41 on Friday. The business's fifty day moving average is $83.24 and its two-hundred day moving average is $92.79. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 794.71 and a beta of 0.77. Casella Waste Systems, Inc. has a one year low of $74.05 and a one year high of $118.91.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last posted its earnings results on Thursday, April 30th. The industrial products company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.10. The company had revenue of $457.33 million for the quarter, compared to the consensus estimate of $454.49 million. Casella Waste Systems had a return on equity of 5.19% and a net margin of 0.38%.Casella Waste Systems's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. Analysts anticipate that Casella Waste Systems, Inc. will post 1.12 EPS for the current fiscal year.

Insider Transactions at Casella Waste Systems

In other Casella Waste Systems news, Director John W. Casella sold 1,744 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $87.77, for a total transaction of $153,070.88. Following the sale, the director owned 30,795 shares in the company, valued at approximately $2,702,877.15. This represents a 5.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Bradford John Helgeson sold 405 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $87.73, for a total value of $35,530.65. Following the sale, the chief financial officer owned 7,342 shares in the company, valued at approximately $644,113.66. This trade represents a 5.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,330 shares of company stock valued at $2,573,708 in the last three months. 3.78% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Barclays upgraded Casella Waste Systems from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $101.00 to $102.00 in a research note on Monday, May 4th. UBS Group decreased their price target on Casella Waste Systems from $140.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, March 10th. Raymond James Financial restated a "strong-buy" rating and issued a $115.00 price target on shares of Casella Waste Systems in a research note on Monday, February 23rd. Weiss Ratings downgraded Casella Waste Systems from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday, February 23rd. Finally, JPMorgan Chase & Co. decreased their price target on Casella Waste Systems from $112.00 to $110.00 and set a "neutral" rating on the stock in a research note on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Casella Waste Systems currently has an average rating of "Moderate Buy" and a consensus target price of $111.13.

Casella Waste Systems Profile

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.

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